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Regulation Are you For It Or Against It

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  • thecalling418

    gthrones said:
    I want clarity too, but that is not regulation.

    The best clarity would be for the gov to say: "We're taking a hands off approach and letting this develop organically." That would be ideal.



    With ya all the way on that,  I don't want gov't to rob me either due to ill-defined regulations that they can just choose to implement whenever someone gets "too" successful.  Thing is, they already do it with fiat money and I am sure they are all over doing as much of it as they can get away with, which I see is already WAY to much.

    But one thing I love about virtual alt. currency is that it is very hard to regulate or control, period (and doesn't need it).  Also, it is evolving so much faster than the speed of bureaucracy.  But most of all, is that as people discover the benefit and value of handling money this new way, they may actually get a clue and start limiting the gov't.

    They say I am Dreamer, however, and Bob knows I am an Idealist--often detrimentally so.

    At any rate, I am praying for a digital future of freedom and wealth, and more regulation can just suck it!

    (gonna check out your vid now, and possibly spread it on my social networks).  

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  • thecalling418

    gthrones said:
    I want clarity too, but that is not regulation.

    The best clarity would be for the gov to say: "We're taking a hands off approach and letting this develop organically." That would be ideal.



    With ya all the way on that,  I don't want gov't to rob me either due to ill-defined regulations that they can just choose to implement whenever someone gets "too" successful.  Thing is, they already do it with fiat money and I am sure they are all over doing as much of it as they can get away with, which I see is already WAY to much.

    But one thing I love about virtual alt. currency is that it is very hard to regulate or control, period (and doesn't need it).  Also, it is evolving so much faster than the speed of bureaucracy.  But most of all, is that as people discover the benefit and value of handling money this new way, they may actually get a clue and start limiting the gov't.

    They say I am Dreamer, however, and Bob knows I am an Idealist--often detrimentally so.

    At any rate, I am praying for a digital future of freedom and wealth, and more regulation can just suck it!

    (gonna check out your vid now, and possibly spread it on my social networks).  

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  • thecalling418

    IMO Shatteredzen does have some very valdid points, however.  How often do Anarchists who dissent by not participating gov't ever change the paradigm.  None.  If they get successful enough on their own grass-roots scale, then they come in and arrest the leaders without trial for terrorism.  If we don't have a place at the table, then how do we stand a chance?  I ask this because I am myself unsure. Both sides of the argument have points I find worthy of consideration.  I think the synthesis is found in a sound idea of Clarity.  I also have a hope that our experiment in alt.currency can inspire and the people that the only regulation we need is the algorithms we choose.

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  • Shatteredzen

    thecalling418 said: IMO Shatteredzen does have some very valdid points, however.  How often do Anarchists who dissent by not participating gov't ever change the paradigm.  None.  If they get successful enough on their own grass-roots scale, then they come in and arrest the leaders without trial for terrorism.  If we don't have a place at the table, then how do we stand a chance?  I ask this because I am myself unsure. Both sides of the argument have points I find worthy of consideration.  I think the synthesis is found in a sound idea of Clarity.  I also have a hope that our experiment in alt.currency can inspire and the people that the only regulation we need is the algorithms we choose.   

    To clarify, I am not advocating regulation, like you I pray for limited government and would much prefer a hands off approach that does not interfere with growth of the community since in the end they will still get capital gains or income tax from it anyways. While I am not in favor of new regulation, it is going to happen, that's life, once we hit critical mass and wall street or big business buys in those individuals will require legitimacy in the form of capital controls so they can sit in their ivory towers and trade it with the knowledge they aren't going to go to jail or lose their stake due to new laws.

      What no one should want is these men being the ones that go to the table for us, they will regulate it away from the common man and create such a complex system of controls like they did in finance that it becomes an arcane art requiring special licensing and compliance officers just to stay on the law abiding end of. The strength of these currencies and assets is in their accessibility to us as normal people, they let us cut the middlemen out almost completely and their job is to keep you, the lay person, out of their complex web of adjustments and acquisitions so that you need them and they gain control over the instruments. These men are the priests of a religion that society is beginning to lose faith in, it is in their interest to control the dogma, it is in your interest to keep them out of the clergy if you want something new and different. The only way you can do this is to "put" the ethics of the community on newcomers, to make those wishing to speak for it do so with the voice of the individual, not the institution and you will not do that with any measure of success while calling for the legislators heads as an unruly mob of anarchists.

       These men and women are professional politicians, the closest thing to monarchy we have, they are raised to be different and they go through their whole life in fear that the mob will one day wake up and throw them into the streets and demand justice, if they swing the gavel of power, what makes you think they would ever knowingly hand you those tools? What you have to do is approach them as friends, but make it clear that your support requires certain concessions, this is how lobbyists work, this is how decisions are made it is give and take with both sides having to feel they came out on top and it is the slow process of incrementally implementing your agenda over decades not years that wins out. Short term change is for the birds, anything can happen in the short term, if you want to fundamentally change what we have as a financial system and make it truly accessible to a broader range of people then you have to start by showing the system as an opportunity and not a threat. If you can convince people that you are peddling a new frontier of assets and corporations and wealth which is all subject to delivering massive tax revenue and doing so in a way where no one has to go to jail, that's a start, this is where we are now and the next step is showing these people where they can fit into this new world and why it doesn't have to be scary. This is why the Bitcoin foundation hired these professional lobbyists, not to sell out to "the man" but  to play the game for the long term.

       If you want to get your way you have to go all in, that either means violence (bad) or active participation in the system, if you show up at the front door in a hoodie waving a sign screaming about the new world order and anarchy, well Jack, your not getting in the lobby, that's life. Put on a suit, clean up and articulately voice your concerns calmly and rationally and play the stupid game. Taking the low brow approach doesn't work, act like a thug, get treated like one, these men and women live a life completely insulated from the unwashed masses, if you attempt to deal with them from an ignorant or violent approach there will be plenty of professional goons to deal with you, look at how the occupy movement came to conclusion, no change and a bunch of trash getting hosed off the pavement both figuratively and literally.

       At some point, just as in our past, we will reach a point where peaceful negotiation and protest is impossible, we aren't there, heck the only barrier to entry is a shirt and tie and a haircut, maybe some deodorant. Don't give up and walk away because someone makes you act like a grownup. Acting like another one of the desperate poor will merely get you bread and circuses and nothing else, playing the game gets you a shot at what you want and you can't say you didn't get a chance if you haven't played.

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  • coinaldo

    Against. couse bitcoins blockchain is transparent and does not need more control. coins like nxt with their own blockchain are more dangerous for folks... at last coinsummit you could see etheriums and mastercoins will for regulate themselves joining ' codo' .

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  • JimVB

    I'm both Against and For.
    Mostly against- since the Bitcoin network is ALREADY regulated - by math and a trusted algorithm.
    However, I see bitcoin being helped by SMALL regulations around the buisnesses - And all it needs to be is for btc to be counted as a currency - then most of the laws necessary to protect consumers and businesses are already in place.
    Of course, I'm against any regulation that ruins fungibility (like the recent IRS ruling). 

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  • frankenmint

    gthrones said: I'd also add that the few Bitcoiners who are calling for regulation, seem to be reacting emotionally, especially post Gox. They are calling for a vague "regulation" not even stating what they think that means or how it would help.

    Still other Bitcoiners who are calling for regulation don't actually want regulation, per se, what they really want is actually clarity.

    They want clarity that the existing regulations will not be interpreted against them. They just want to know for sure that the government won't try to harm them for running an honest Bitcoin start up.

    I want clarity too, but that is not regulation.

    The best clarity would be for the gov to say: "We're taking a hands off approach and letting this develop organically." That would be ideal.

    Bruce Fenton on clarity vs regulation:
    https://www.youtube.com/watch?v=mOg0MHr-0no

    Bruce Fenton seems to get it.

    @ 3:27 I came to the epiphany that he's right, pizza is instrumental to the proliferation of bitcoin! 

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  • Cryptonite

    I am a left-wing democrat who always favored regulation, but Bitcoin opened my eyes to many things.

    Technology is reaching the point where we simply cannot afford to have centralized power as a civilization and expect to survive. Snowden has already revealed how profound surveillance has become, imagine what it will look like twenty years from now as technology continues to progress. Apparently -- I heard this on NPR sometime back -- scientists have taken the first steps to actually being able to listen to, and audio record/translate, thoughts. The kinds of technologies that are coming are mind boggling, and will amplify the power already overly concentrated in the hands of tiny groups of people.

    Historically, people have looked to government regulation to protect ordinary people from the abuses of power, under the principle that government is democratically elected and meant to represent the people. But the reality is a far cry from that, and instead the lines between government and powerful private interests have become entirely blurred. The revolving door is such that Wall Street bankers end up becoming Treasury Secretaries and essentially just use government to benefit the powerful, who in turn bankroll candidates to get elected in an election system that has become entirely about money. Our current system is nearing an end, and it is in this context that Bitcoin is emerging.

    Cryptocurrency could actually provide the foundation for an entire new way, and entire new system, that will reduce hierarchical concentrations of power and distribute power in a way that allows forms of democratic, consensus regulation, where the regulation comes not from top-down, but from the interconnected web of participants in the system. It is hard to concretely imagine how this will play out, but intuitively I can see it.

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  • lainfinity

    Regulation is needed for systems that involve 3rd parties who have conflicts of interest like the politicians and the corporation.

    But Bitcoin Block Chain is a self-regulated trustless system which involve no third parties. If the entire Bitcoin ecosystem bypasses 3rd parties by implementing decentralized exchange, decentralized payment systems which serves the end users directly without middlemen, brokers, agents, representatives there is no need for regulation.

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  • TheAnarchistBlockchainQueen

    I am against regulation. Obviously... glances at my username

    I think Bitcoin and blockchain technology in general will make regulation obsolete.

    How well does current regulations work anyway? The economy is totally screwed up. They made it harder to get home loans by implementing very strict rules, and then I just read an article that Obama is pushing banks to lend to potential buyers that don't have as good credit as the new rules call for. So, which is it? A central authority controlling all of these rules about banking isn't good. We have a crises with student loan debt and defaults, and some people think we are even going to have a second housing bubble burst.

    Sorry, I got off into a small tangent for a moment there. My point is, these people have no idea what they're doing. The main point of many of these regulatory rules is to shutter out competition. I was discussing Bitcoin with someone, and he said it's unstable because so many of the exchanges have closed. I replied that was because they can't compete with the bigger companies in regulatory compliance, and they are being forced to shut down because they can't comply. He never responded. Does that mean I win the debate??

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